Compliance Updates
Brace Yourselves: Curaçao’s New Gambling Law Is at the Door!
![](https://gamingamericas.com/wp-content/uploads/2024/01/curacao-slotsoo-image.png)
Curaçao is approaching the finishing line of their online gambling reform, with the new law being sent to the parliament. Markus Björk at Slotsoo has been in touch with both the Ministry of Finance and several Curaçao operators to find out how they feel about this big change. Do European license providers have a reason to feel threatened by Curaçao casinos 2.0?
LOK Now Just Waiting for Parliament Approval
On December 19th, Curaçao’s Ministry of Finance informed that the new law has been officially submitted to the parliament. The National Ordinance for Games of Chance, commonly referred to as LOK (Landsverordening op de kansspelen), is expected to come into effect in the first half of 2024.
Finance Minister Javier Silvania, the front figure of the reform, shares his excitement about this historical moment:
“We are very happy to reach this final stage. The submission of the LOK to Parliament is not just a procedural step, but a leap towards transformative progress.”
No More Master Licenses or Middle Men
The current setup of the Curaçao casino license is very unique, with four master license holders being in charge of giving licenses to individual casino operators and ensuring their compliance to the regulations.
This has resulted in big quality differences, and if you were to ask ten EU players how they feel about Curaçao casinos you would get very varied replies. Another critique with the current system is that most of the financial gain goes to the four master license holders, while the island of Curaçao is left with light pockets.
LOK will put an end to master licenses and middle men and require all licenses to be applied directly from Curaçao’s Gaming Control Board. This means more uniformed quality and better control. The new law will also require gambling companies to have physical presence on the island, creating new job opportunities for the locals.
The Curaçao casinos we interviewed all welcome the new setup. Spinwise (Tsars Casino) sees some hurdles, but says it will be worth it in the long run:
“The prohibition of sublicensing by master licensees introduces a new financial dynamic for individual companies, albeit with associated fees. While adaptation to the new framework may pose short-term challenges, the long-term benefits are expected to outweigh these initial obstacles.”
The Curaçao License Will Remain Tax Free
- No tax on winnings
- No restrictions on player nationality
- Strong regulatory framework
Keeping the Balance Is Crucial for Success
Finance Minister Javier Silvania shares that they had a very inclusive approach when drafting the new law. They consulted all the stakeholders to make sure LOK will consider different perspectives and not just serve one group. The country of Curaçao, its citizens, the gambling industry, and the players should all benefit from the reform.
Many license jurisdictions that go through a re-regulation fall into the trap of legislating too much, without the government listening to the industry or the players enough. This leads to fewer license holders and lower channelization rates, as both the operators and the players search for more attractive solutions from other countries.
We wish Curaçao good luck with their new start in 2024!
Compliance Updates
IGSA Welcomes Sharp Vision as Silver Member
![](https://gamingamericas.com/wp-content/uploads/2024/07/7-6.jpg)
The International Gaming Standards Association (IGSA) has welcomed Sharp Vision as a new Silver member. Sharp Vision is a leading provider of regulatory turnkey solutions for gaming authorities.
“We are delighted to be a part of IGSA and we look forward to contributing to the advancement of best practices among regulators in the fast-growing gaming industry,” Damien Raymond, COO of Sharp Vision, said.
“IGSA is very excited to welcome Sharp Vision to our membership. We believe that IGSA Standards can enhance Sharp Vision’s products supporting regulatory authority oversight. We look forward to their participation in IGSA committees,” Mark Pace, President of IGSA, said.
Compliance Updates
PGCB Places Seven Individuals on Involuntary Interactive Exclusion List for Online Gaming Fraud
![](https://gamingamericas.com/wp-content/uploads/2024/07/4-7.jpg)
The Pennsylvania Gaming Control Board (PGCB) on Wednesday approved recommendations by its Office of Enforcement Counsel (OEC) for the placement of seven individuals on the iGaming Involuntary Exclusion List.
The online transactions that these seven individuals engaged in, totaling $27,168, were investigated by the Board’s Bureau of Investigations and Enforcement (BIE) and found to be fraudulent in two major respects:
- an individual used a fraudulent scheme to obtain an online account or accounts in another person’s name and identifiers, placed funds into these accounts utilizing other persons’ payment methods, and without engaging in any gaming activity, managed to have funds withdrawn from the fraudulently-established account or accounts directly into their own bank account; or,
- requested and received a refund for a disputed credit or debit card transaction from a card issuer even though that refund was fraudulent.
The specific fraudulent conduct of each individual is further described below:
- Created two separate online sports wagering accounts using the personal identification and credit cards of other individuals, and withdrew $300;
- Created 13 separate online casino-type games accounts using the personal identification and credit cards of other individuals, and withdrew $545;
- Created six separate online sports wagering accounts using the personal identification and credit cards of other individuals, and withdrew $1000;
- Created four separate online sports wagering accounts using the personal identification and credit cards of other individuals, and withdrew $1123;
- Created two separate online sports wagering accounts using the personal identification and credit cards of other individuals, and withdrew $1500;
- Illegally requested and received six chargebacks to a credit card associated with an online casino-type games account totaling $10,100;
- Created one online sports wagering account using the personal identification and credit card of another individual, and withdrew $12,600.
The Board’s actions in these matters stem from its commitment to keep individuals who have committed fraud from gaming online in Pennsylvania. The additions made bring to 37 the total number of individuals who are currently on the iGaming Involuntary Exclusion List.
The Board also placed four other individuals on its Casino Involuntary Exclusion List. The number of individuals currently on that list totals 1197 and stems from various reasons including theft, cheating, child endangerment disorderly conduct, and using counterfeit currency.
Compliance Updates
PandaScore secures their first US betting license, by entering Colorado
![](https://gamingamericas.com/wp-content/uploads/2024/07/PandaScore-secures-their-first-US-betting-license-by-entering-Colorado_20240723_130839_0000.png)
After a meticulous and measured research process in consultation with the needs of its clients, PandaScore has acquired a license to operate in the US state of Colorado.
Through the license, PandaScore has signalled its intentions in the US market: forging a supplier-led path to esports betting success in the US. Existing PandaScore clients can now enter the Colorado market, scale up their esports offering and build their future audience in the state’s esports-friendly regulatory framework.
Future clients can also be confident that working with PandaScore supports their growth strategy in the lucrative US market. The state’s esports-friendly regulatory framework serves as a solid foundation to cultivate an esports audience and take advantage of PandaScore’s innovative, revenue-driving products such as BetBuilder, player props and microbetting.
PandaScore selected Colorado as its first point of entry into US licensing thanks to the state’s large catalogue of esports titles and competitions that are eligible for regular betting, and the wide range of markets that can be offered. Additionally, the state’s flexible and innovation-friendly licensing regime makes it a strong market for PandaScore and its clients.
Securing the license also serves as proof of concept for the French esports supplier, PandaScore Legal Counsel Alexis Brunet noted that “securing the Colorado license is a strong signal of our intentions in the US and are serious about its potential. Esports in the United States is a fast-evolving regulatory environment, but it’s only going in one direction: expansion. We intend to provide our best-in-class products and services to our customers no matter where they are, and service one of the largest markets in the world.”
For PandaScore CEO Flavien Guillocheau, entry into Colorado in the US market was the natural next step in the company’s client-first, service-oriented approach: “For esports to succeed in the US, suppliers must lead from the front. Suppliers need to address the uncertainty around regulation which has held back operator investment and thus growth of the vertical.
“We’ve proven we know the market, get a license efficiently and do it in a way that puts operators first. We’re confident that if our clients are seeking entry into a given market, we can be completely straight with them, show them the viable pathway to success, and create the foundation and access they need to fully harness the potential of esports in one of its biggest consumer markets.”
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